Shabbir KayyumiNarnolia Financial Advisors
The weekly chart of Bank of India reveals that it has formed a Dragon Fly Doji which is a trend reversal candlesticks pattern. At the same time, positive divergence in RSI on the weekly chart is also giving the possibility of a pullback on the higher side.
The lower time frame of the chart also gave a breakout through its double bottom pattern which has created a positive rhythm on the upside.
By looking at all these supportive technical factors, one can accumulate this stock around Rs 81-83 with the stop loss of Rs 72 and a target of Rs 90 and Rs 100 levels.
Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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